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50+ Best Gig Economy Jobs

Lyft Review 2022: Is Driving for Lyft Worth It? Pros & Cons

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Lyft Review

lyft logo

Lyft is one of the most popular ridesharing platforms in the US and makes for a great platform to earn an income as a driver. The platform’s app is available in over 600 cities in the US, and there is no shortage of demand for rides. Thus, you are certain to reliably and consistently earn a decent income as a driver and can even stand to earn up to $28 per hour during peark periods in some cities.

Rating

4.5

Legit & Safe

Earning Potential

Flexible Schedule

Payout Process

Pros

  • Flexible working hours – you can work as much or as little as you want. Drive more during peak hours (7am-9am/6pm-9pm) to maximize your earnings.
  • Instant payment with the Lyft debit card – the card also has no low-balance or maintainence fees and gives drivers up to 4% cash back on spending.
  • 3 different ways to earn – you can earn money by completing trips, gettin customer tips (you keep 100%), and bonuses for hitting certain quotas.
  • 3rd party liability insurance – Lyft will provide up to $1,000,000 3rd party auto liability coverage if your personal insurance does not apply.

Cons

  • High minimum age requirements – you must be at least 21 to drive for Lyft in most cities, although the minimum age can be up to 25 in some cities.
  • Vehicle expenses – Lyft will not reimburse you for expenses such as fuel, maintenance and repairs. These can add up to 40% of your earnings.

Best Gig Economy Jobs

DoorDash

DoorDash logo

Earn $15 – $25 per hour + keep 100% of your customer tips (4000 cities)

You can use any mode of transportation: your car, bicycle or motorcycle

You have the freedom to pick and choose which orders you want to accept

Grubhub

Grubhub logo

Make around $12 per hour + tips and create your own flexible schedule

No resume, interview or delivery experience required, and no dress code

Cash your earnings out up to $500 a day (free for Chase Bank customers)

GoPuff

GoPuff logo

Experienced delivery drivers can earn up to $21 per hour ($13 on average)

Choose when you want to work based on your schedule in 1000 cities

Delivery snacks, drinks, grocery, quick meals, cleaning supplies and more

What is Lyft?


Lyft is a ridesharing service created to be a cheaper alternative to traditional taxi services. Lyft has served riders since 2012 and offered on-the-go services. 

Drivers apply to work for Lyft and convey riders to their destinations. Riders sign up on Lyft and trust their services for both scheduled and unscheduled trips.  

How Does Driving with Lyft Work?


As a ridesharing service, Lyft connects riders to drivers. As a Lyft driver, you get the opportunity to work flexible hours behind the wheels and offer on-demand services. You basically help people conveniently transport from one place to another.

Driving with Lyft means being your own boss and earning income that fully depends on you. You earn directly from the rides you complete and earn customer tips for providing excellent service. 

You can increase your Lyft income by applying proven tips and tricks based on available bonuses.

The appeal of driving with Lyft lies in its flexibility. Since Lyft is an established ride-sharing company, being a Lyft driver means becoming connected to a stable source of income you can apply according to your availability.

Where is Lyft Available?


You can only apply to drive with Lyft if you live in any location where the ridesharing services are available. Lyft is operational only in the US and Canada.

Lyft is available in all US states. In Canada, it’s available in British Columbia and Ontario. Find the complete list of locations where Lyft is available here.

How Much Can You Make With Lyft Per Day?


Lyft allows you to work based on a flexible schedule and earn based on your availability and the established earning patterns and parameters.

On average driving with Lyft can make you anywhere from $20 to $28 hourly. This could average $120 – $168 daily if you work 6 hours a day.

How Does Lyft Calculate Your Earnings?

Your earnings are calculated based on:

Time to complete a rideEvery city has a per-minute rate. This rate determines the way earnings are calculated based on the time that a trip takes, a fixed charge per minute of the trip.
Distance of a rideYour distance earnings are also based on the per-mile rate of your city. You get paid for every mile of the trip.
BonusesBonuses can influence your earnings significantly too. Lyft offers driver bonuses that include Real-time, Scheduled, Ride Streaks, Personal Power Zones, Earnings Guaranteed, and Ride Challenges.
TipsYou also earn from customer tips and keep 100% of your tips. If riders tip you for excellent quality service regularly, you can significantly improve your earnings.

There are a few bonus opportunities Lyft offers:

  1. Real-time bonuses are available when there’s a high demand for rides close to your current location. Scheduled bonuses are listed as available at the beginning of every week. You get Ride Streaks bonuses when you continuously accept rides during periods of high demands. 
  2. Earnings Guaranteed bonuses apply when you are guaranteed specific earnings on completing specific rides within a stipulated period. Lyft makes up the deficit if you don’t hit the target earnings mark. With the Ride Challenges bonus, you earn an extra amount when you complete rides based on predetermined conditions. 
  3. Personal Power Zones bonuses are typically offered in real-time. You earn the bonus when there are many passengers in an area near you. The bonus is for a single ride. 

Since Lyft shares all the details about how your earnings are calculated, you can apply the information to maximize your earnings.

Lyft Fees for Drivers


Lyft doesn’t charge you any fees – it’s completely free for you to use.

Even though you wouldn’t be directly paying Lyft, you will incur regular costs and fees like:

  • Gas purchases
  • Vehicle maintenance fees
  • Tolls
  • Insurance charges
  • State taxes

Lyft Driver Requirements


To drive with Lyft, you should fulfill the following requirements:

  • Meet the minimum age requirement in your location and have a valid driver’s license
  • Pass the background check on your criminal and driving history
  • Upload your car registration and insurance and complete a car inspection if necessary
  • Have a four-door car or rent one through Lyft Express Drive

Apart from these basic requirements, other requirements could apply, depending on your location.

Lyft Vehicle Requirements


Your vehicle should meet the following requirements to get Lyft’s approval:

  • Have four doors
  • Have five to eight seats (including the driver’s seat)
  • Meet state and city-specific requirements

How to Sign Up as a Lyft Driver?


Signing up as a Lyft driver involves simple steps as stated below:

Step 1: Apply to drive

First, apply to drive by submitting the required personal and vehicle details. The Lyft team will review your application and provide feedback.

Lyft would conduct a vehicle inspection based on an established schedule if you applied to use your personal car. A background criminal and driving history check will also be conducted.

It takes just a few days for Lyft to get initial feedback from the Lyft team.

Step 2: Download the App

If your application is approved, you can then download the app and start accepting the rides.

Step 3: Earn Money and Cash Out

Once you accept the ride, complete it to earn money and cash out.

Make sure to provide excellent customer service to earn tips from riders.

3 Tips to Increase Lyft Earnings


Here are three simple steps that can help you maximize your earnings:

  1. Offer high-quality service to earn tips since you get to keep 100% of the tips
  2. Plan your working hours around scheduled bonuses
  3. Understand the customer traffic pattern to earn more bonuses
how to make money with lyft

How & When Does Lyft Pay You?


You get your Lyft earnings through the app weekly. To set up the weekly payment, you need to provide your banking information. 

You can also apply Express Pay, which is only available in the US, to cash out anytime.

Lyft Driver Reviews: Is Lyft Legit?

Lyft Driver app reviews score 4.9 rating out of 5-star rating on App Store and 4.0 on Google Play

The higher ratings highlighted aspects such as the simplicity of the app and the ease of flexible earnings achieved with Lyft.

On the other hand, lower ratings focused on customer service issues and had app glitches complaints.

Pros & Cons of Driving With Lyft


As you consider driving for Lyft, here are some of the noteworthy details:

Lyft Pros

  • Flexible schedule
  • Flexible earning potential
  • Bonuses and tips are available
  • Ease of use

Lyft Cons 

  • Customer service issues
  • You have to pay for gas, car maintenance, etc.

Lyft Review Verdict: Is Driving with Lyft Worth it?


Lyft is one of the popular ridesharing platforms. This means that there is a steady demand for rides. Demands are also bound to be high during the rush hours. As such, you can rely on opportunities for maximizing your income.

After you register to drive with Lyft, you get access to cater to the needs of riders and deliver quality services for monetary gains. 

When it comes to earnings, you can expect to earn anywhere from $20 to $28 per hour. Plus, you’ll get to keep 100% of customer tips.

Lyft Alternatives


If you are not sure about driving with Lyft, here are some of the alternatives you can consider. 

Ridesharing AppEarning Potential
Lyft$20 to $28 per hour
Uber$15 to $30+ per hour (varies by state)
Via$15 to $20 per hour
HopSkipDriveUp to $50 per hour

Lyft vs. Uber

Uber Summary

  • Earn up to $1034 per week including tips
  • Receive payments up to 5 times per day
  • Earn more during surge pricing periods
  • You get to keep 100% of all rider tips

Uber is another popular ride-sharing service. Uber has similar features and driver and vehicle requirements as Lyft.

While Lyft projects itself as a fun company, Uber has more of a professional feel and vibe. It’s also noteworthy that Uber has been around since 2009 and is available in more locations than Lyft.

how to become an uber driver

Lyft vs. Via

Via Summary

  • Flexible work schedule
  • Earn 5% – 20% more on shared rides
  • Earn more than $20 during peak hours
  • Guaranteed rides with Via Blue Mode

Via is a ridesharing platform that works differently from Lyft and Uber, with a strong focus on providing cost-effective transportation. As such, Via focuses on carpools and enables you to drop off your riders near their location, instead of driving them all the way to their doorsteps.

It’s noteworthy that Via gets many riders and significant patronage because of its flat rate, and this is good news for you as an intending driver. 

Lyft vs. HopSkipDrive

HopSkipDrive Summary

  • Accept gigs up to 7 days in advance
  • Earn up to $50 per hour as a driver
  • Earn $1000 for your first 25 trips
  • Make a difference to childrens’ safety

HopSkipDrive is a ridesharing platform for kids, helping busy parents safely move their kids around. As such, it could be described as being in a different category than Lyft.

To drive for HopSkipDrive, you would need additional requirements such as five years’ childcare experience.

Compared to Lyft, HopSkipDrive isn’t available nationwide and isn’t as popular as Lyft is. The limited availability could affect your earnings as a driver. As regards general pay and working conditions, HopSkipDrive has better offers than Lyft.

Lyft Review

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